Chapter 4.30
FINANCIAL RESERVES AND FUNDS

Sections:

4.30.010    Financial reserves and funds.

Prior legislation: Res. 2008-7.

4.30.010 Financial reserves and funds.

The Board of Directors of Sanitary District No. 5 of Marin County, California, resolves that the following policies be utilized for the designation of restricted reserves/funds for operating needs and prudent financial management of the various operating funds of SD No. 5 with respect to the District as a whole:

(1) All funds belonging to the District are hereby designated and restricted as follows:

(a) Operating reserve fund.

(b) Capital improvements reserve fund.

(c) Disaster recovery reserve fund.

(d) CalPERS retirement reserve fund.

These restricted reserves/funds, and all restricted reserves/funds designated hereinafter, shall be established respectively as identified in updated Exhibit A (District Reserves), and hereby made a part of this chapter.

(2) All funds deposited in the capital improvement reserve fund for the District are hereby designated for the purpose of upgrading and/or replacement of sewage collection, treatment, and disposal facilities, which comprise the present or future sewerage facilities of SD No. 5.

(3) All funds collected from connection fee revenue and deposited in the capital reserve fund for the District are hereby restricted for the construction and acquisition of future improvements related to the expansion or enhancement of capacity or operating conditions at SD No. 5.

(4) All designated reserves/funds established by this chapter shall be identified, reviewed, and confirmed or modified each year as part of SD No. 5’s annual budget process.

(5) Funds to be used from the reserves shall only be available upon direction and authorization of the Board based upon a detailed report and evaluation of the use of the funds including a proposed method for the reestablishment of the affected reserve balance. [Res. 2023-5; Res. 2022-1; Res. 2021-3; Res. 2020-7; Res. 2019-3; Res. 2018-9; Res. 2017-6.]